Market Size of Zinc Oxide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Zinc Oxide Market Analysis
The zinc oxide market is expected to reach over 2,200 kilotons by the end of this year and is projected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted due to the COVID-19 pandemic in 2020. Major tire manufacturers shut down plants due to the losses that occurred in 2020. However, the global tire industry witnessed a significant recovery in 2021 and maintained a similar trend in the first half of 2022.
- Over the medium term, the growing demand from the rubber industry is expected to drive market growth.
- However, the poisonous nature of zinc oxide fumes, the exposure to which can cause metal fume fever - a flu-like illness with symptoms of a metallic taste in the mouth, headache, fever, and chills - is likely to hinder the growth of the studied market.
- Increasing application of zinc oxide in the pharmaceutical and cosmetics industries will create new opportunities in the near future.
- The Asia-Pacific region dominates the market, owing to the growing application in the rubber and ceramic sectors. Asia-Pacific accounts for more than 90% of the world's natural rubber production and engages in rubber processing activities at a large scale. Moreover, India and China are the major consumers with favorable contribution from other Asian countries like Indonesia, Thailand and Malaysia.
Zinc Oxide Industry Segmentation
Zinc Oxide (ZnO) is an inorganic compound. It is a white powder that is insoluble in water and is widely used as an additive in various materials and products. It is also known as Calamine or Zinc White. It is found naturally as the mineral zincite. It is mostly made synthetically.
The Zinc Oxide Market is segmented by Process (Indirect Process, Direct Process, and Wet Process), Application (Rubber and Tires, Ceramics and Glass, Pharmaceuticals and Cosmetics, Agriculture, Paints and Coatings, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).
The report also covers the market sizes and forecasts in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).
| Process | |
| Indirect Process (French Process) | |
| Direct Process (American Process) | |
| Wet Process |
| Application | |
| Rubber and Tires | |
| Ceramics and Glass | |
| Pharmaceuticals and Cosmetics | |
| Agriculture | |
| Paints and Coatings | |
| Other Applications (Chemicals and Food) |
| Geography | |||||||
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Zinc Oxide Market Size Summary
The zinc oxide market is poised for growth, driven primarily by its increasing demand in the rubber industry, particularly for tire manufacturing. This demand is fueled by the material's role as a vulcanizing agent, which enhances the durability and performance of rubber products. The market experienced a setback due to the COVID-19 pandemic, which led to temporary plant shutdowns among major tire manufacturers. However, the industry has shown resilience, with a notable recovery in the global tire sector. The Asia-Pacific region, dominating the market, benefits from its substantial rubber and ceramic industries, with countries like China and India playing significant roles in consumption and production. The region's prominence is further bolstered by its status as a major automotive manufacturing hub, which drives the demand for tires and, consequently, zinc oxide.
Despite the positive growth trajectory, the zinc oxide market faces challenges, such as the health risks associated with exposure to zinc oxide fumes, which could impede market expansion. Nonetheless, the pharmaceutical and cosmetics industries present new opportunities for zinc oxide applications, potentially offsetting some of these challenges. The market landscape is characterized by a fragmented structure with numerous players, including major companies like Zochem, Inc., EverZinc, and Weifang Longda Zinc Industry Co. Ltd. Recent strategic moves, such as the merger of U.S. Zinc and EverZinc, aim to consolidate market positions and enhance production capabilities. These developments, alongside ongoing investments in production capacity, indicate a dynamic market environment with potential for continued growth and innovation.
Zinc Oxide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from the Rubber and Tire Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Fluctuation in Raw Material Prices
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Process
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2.1.1 Indirect Process (French Process)
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2.1.2 Direct Process (American Process)
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2.1.3 Wet Process
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2.2 Application
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2.2.1 Rubber and Tires
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2.2.2 Ceramics and Glass
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2.2.3 Pharmaceuticals and Cosmetics
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2.2.4 Agriculture
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2.2.5 Paints and Coatings
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2.2.6 Other Applications (Chemicals and Food)
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Zinc Oxide Market Size FAQs
What is the current Zinc Oxide Market size?
The Zinc Oxide Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Zinc Oxide Market?
Zochem, Inc., Weifang Longda Zinc Industry Co., Ltd. , EverZinc, Silox S.A and Akrochem Corporation are the major companies operating in the Zinc Oxide Market.
